TaxTMI 
TaxTMI 
Can We avail ITC on Bank Charges
X X X X Extracts X X X X
X X X X Extracts X X X X
....an We avail ITC on Bank Charges<br> Query (Issue) Started By: - Sangeetha D Dated:- 13-3-2025 Last Reply Date:- 15-3-2025 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>Can We Avail input tax credit on Bank Charges. Some GST officer saying we should not avail ITC on Bank Charges. Is that Blocked Credit or any specific condition to Avail Bank Charges ITC Reply By mia alexandra: The Reply:....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... To claim ITC on bank charges, ensure you have valid tax invoices from the bank, verify that the bank has paid the GST to the government, receive the banking services, and file your GST returns (GSTR-3B) timely. Accurate Spacebar clicker documentation and timely payment of these charges are crucial for eligibility. If you have no idea what that means, don't fret -....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... you're not alone, this isn't everyday jargon we're playing with here. Input-taxed fees mean a business or corporation cannot charge GST on fees, goods, or services, or claim GST back on their own business purchases. Reply By Sadanand Bulbule: The Reply: ITC on bank charges is not blocked under Section 17, but it is subject to the compliance of parameters of Section 16. Reply By San....
X X X X Extracts X X X X
X X X X Extracts X X X X
....geetha D: The Reply: For Bank Charges what is a valid Invoice to Claim ITC. There a small small ITC Values on Bank Charges. how to get Invoice for that. Reply By RaamSrinivasan Kalpathi: The Reply: The bank will email you a consolidated invoice at the end of the month. This document would suffice. Reply By Shilpi Jain: The Reply: Bank charges eligible to the extent it pertains to a taxa....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ble business. Also there are relaxation provisions for issuance of invoice by banks. Any document issued by them can be good enough to take credit. bank statement is also fine backed up with entry in your GSTR-2A/2B. Reply By KASTURI SETHI: The Reply: Board's circular No.183 of 2022 can be helpful in this context.<br> Discussion Forum - Knowledge Sharing ....